Low Expectations And Future Catalysts Make Apple A Buy
by Illuminati Investments
The selling pressure that Apple (AAPL) was under at the end of last year appears to have continued into the beginning of this year, driving the stock back down towards 500 every time it seems ready to break out. This has resulted in Apple trading rangebound at a very attractive valuation, with a forward P/E under 11 even before backing out its $100B plus cash hoard. Also, these future earnings estimates have already come down significantly compared to just several months ago, with the consensus analyst full year 2013 earnings estimates having declined from over $53 a share ninety days ago to under $49 now. read more »
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